All Forum Posts by: Jason Fowler

I wanted to have as much information on hand when I look into buying a short sale for the seller.  If they have questions about "will I have to pay taxes" on the capital gains from the difference from what I owe the bank to what I sell it to you for etc..... I want to have as much "ammo" to be able to help the seller out as possible. I want it to be a win win for the both of us. That would be a huge question I'd ask as a seller and the real estate agent may not know the answer.  Appreciate the response!

I'm looking to buy a short sale this year as an owner occupant to rehab it for the next five years then sell it and/or get a line of credit to start to invest in buy and holds. I was curious if anyone knew if I buy this year (2015) if the Mortgage forgiveness debt relief act is still in effect. I've read in other areas and online that it went through 2014 but haven't found information on this year. Thanks.

I'm sure you found a cabinet maker already but for future projects you could try swan creek cabinets in Boone IA. I don't know how far that would be for you but my father in law is a contractor in Missouri and drives there to pick up his custom made cabinets for his jobs. He highly recommends them.

I have convinced my wife to start looking for duplexes or triplexes to live in! I'm very excited b/c that will help our household increase its cash flow and we'll get tax benefits as well due to living in one of the units. The issue I'm running into is finding properties which fit this mold online. I'm looki g now to see where the market is at but when I look at zillow, on Craigslist or on houzz it pulls up one unit of a duplex for sale not both etc... How do I find these types of properties? Thanks.

thanks Brandon appreciate the feedback! Btw when listening to your podcast several episodes ago.. I could've helped you out when you mentioned needing a chiropractor while being very relaxed on the couch.

I've been wrestling with how much to put down for the first property. More down payment would be more cash flow. I assume it will depend on my overall goal. Also great advice on being specific on what you need to look for as an investor I know that will help me as well.

I wanted to start off by saying this site is amazing and the people on here are awesome and always willing to lend their expertise. I am a Chiropractor who has always been interested in real estate for many years. I always had a retirement strategy which involved real estate. I have done a lot self improvement seminars and exercises and one thing I do very well is set up my goals 1,3,5, and 10 years down the road. I am interested in buy and holds. This makes the most sense to me as far as cash flow and being truly wealthy (time wouldn't be a restraint). My first milestone is to replace $6000 per month in income through rentals. I would like to own 63 units within a 10 year timespan. Starting next year 2014. I was wondering if my calculations were accurate and would like some advice on an investor who has done this as far as...how long did it really take? How much cash flow / unit is realistic (incld. the 40-50% rule) / month. I know it depends on the region..my region would be Chicagoland and St. Louis, MO

Thanks again for your feedback! I'm anxious to get started...working on my savings and down payment for the first rental as we speak!